Noble Energy (NBL) Research Coverage Started at Stephens

Stephens started coverage on shares of Noble Energy (NYSE:NBL) in a research note released on Thursday, Marketbeat reports. The brokerage issued an overweight rating and a $40.00 target price on the oil and gas development company’s stock.

NBL has been the topic of a number of other research reports. Mizuho set a $28.00 target price on shares of Noble Energy and gave the company a hold rating in a research note on Wednesday, November 28th. Citigroup cut their target price on shares of Noble Energy from $44.00 to $42.00 and set a buy rating on the stock in a research note on Monday, August 13th. Piper Jaffray Companies restated an overweight rating on shares of Noble Energy in a research note on Friday, September 28th. Barclays initiated coverage on shares of Noble Energy in a research note on Wednesday, August 29th. They issued an underweight rating and a $33.00 target price on the stock. Finally, Morgan Stanley cut their target price on shares of Noble Energy from $39.00 to $36.00 and set a hold rating on the stock in a research note on Thursday, August 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $41.40.

NBL stock traded up $0.33 during trading on Thursday, reaching $24.17. The stock had a trading volume of 3,233,516 shares, compared to its average volume of 5,317,091. Noble Energy has a 1-year low of $23.22 and a 1-year high of $37.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $11.67 billion, a P/E ratio of 77.97, a P/E/G ratio of 2.48 and a beta of 1.10.

Noble Energy (NYSE:NBL) last issued its quarterly earnings data on Thursday, November 1st. The oil and gas development company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Noble Energy had a net margin of 25.09% and a return on equity of 4.82%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business posted ($0.02) EPS. The firm’s revenue was up 32.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Noble Energy will post 0.98 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 19th. Shareholders of record on Monday, November 5th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Friday, November 2nd. Noble Energy’s dividend payout ratio (DPR) is 141.94%.

In other news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $17.75, for a total value of $250,935,264.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.96% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue lifted its stake in Noble Energy by 4.5% during the third quarter. State of Alaska Department of Revenue now owns 112,759 shares of the oil and gas development company’s stock valued at $3,515,000 after purchasing an additional 4,867 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Noble Energy by 29.3% during the 3rd quarter. Bank of Montreal Can now owns 216,958 shares of the oil and gas development company’s stock worth $6,767,000 after purchasing an additional 49,206 shares during the last quarter. Putnam Investments LLC increased its stake in shares of Noble Energy by 28.1% during the 2nd quarter. Putnam Investments LLC now owns 151,413 shares of the oil and gas development company’s stock worth $5,342,000 after purchasing an additional 33,248 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Noble Energy by 1.6% during the 2nd quarter. American Century Companies Inc. now owns 7,460,070 shares of the oil and gas development company’s stock worth $263,191,000 after purchasing an additional 119,166 shares during the last quarter. Finally, CIBC World Markets Inc. increased its stake in shares of Noble Energy by 50.0% during the 2nd quarter. CIBC World Markets Inc. now owns 19,206 shares of the oil and gas development company’s stock worth $678,000 after purchasing an additional 6,404 shares during the last quarter. 98.77% of the stock is owned by institutional investors and hedge funds.

About Noble Energy

Noble Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids worldwide. It owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. It principal projects are primarily located in the US unconventional basins and various global offshore conventional basins.

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